Specialty Products Producer
Sudden incapacitation of owner resulting in management buyout in a highly leveraged transaction.
Working with owners with no operating or financial background, identify the strengths of the business and build operating plan on foundation of core competencies residing at lower levels in the organization. Created plan by customer used to secure senior creditor financing and served as a roadmap for monitoring and measuring organizational performance. Restructured pricing templates based on value add; improved on-time delivery through enhanced procedures and checkpoints. Implemented job cost model for portion of the business as a tool to provide feedback loop to estimating team.
Record margins, revenue and profit in first year; early retirement of debt and removal of enterprise from troubled business status with senior creditor.
“We didn’t know what we didn’t know when we bought the business and Stebb helped guide us through the plethora of issues facing us as new owners, particularly in the first year. Their help with our banking situation allowed us to focus on our customer-centered business plan which ultimately resulted in the business producing excellent levels of profit and the significant reduction of risk in the model. It was the right plan well executed.”
— President and CEO